Oil search shares suspended

Shares in Oil Search (OSH) have been suspended from official quotation from the start of trade today at the company's request, pending an announcement of its financial results, a material acquisition and a proposed capital raising associated with that acquisition.

In a statement to the Australian Securities Exchange, Oil Search said the suspension was necessary to allow it to finalise the details of an institutional placement to fund the proposed deal.

The energy group said the suspension was not expected to last beyond the start of trade on February 28.

Oil Search shares were placed in a trading halt on February 25 and is expected to announce a Papua New Guinean gas acquisition.